With its European Green Deal, the EU has embarked on a journey to become the world’s first climate neutral continent by 2050. The roadmap lays out a holistic sustainability approach that covers all parts of the economy and society, promising to reconcile the challenges of climate change and environmental degradation with continued economic growth.
Already, the impact of the European Green Deal can be felt far beyond the borders of the EU. Businesses in particular will have to adjust their long-term strategies, reassess investment plans, rethink how they use raw materials, clean up supply chains and, above all, be transparent about how they do it. The European Green Deal, however, is more than a challenge to the way we do business. It presents companies with untold opportunities to help shape a more sustainable and livable world.
Realizing those opportunities will require continued and open dialogue with all stakeholders, including policymakers, NGOs, academia, investors and employees, on a broad range of questions. What regulatory changes are required to decarbonize the economy? What technologies should be prioritized and how do we ensure efficient investment in those areas? How can we ensure clean, fair and ethical supply chains? Can the EU export the Green Deal through trade?